Aum Private Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07057037 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2019

for

Aum Private Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr T A Mehta

REGISTERED OFFICE:

Unit 1

87 Kenton Road

Harrow

Middlesex

HA3 0AH

REGISTERED NUMBER:

07057037 (England and Wales)

ACCOUNTANTS:

RNS Business Solutions Limited

Chartered Accountants

276 Preston Road

Harrow

Middlesex

HA3 0QA

CURRENT ASSETS

Debtors

4

-

51,584

Cash at bank

28,980

-

28,980

51,584

CREDITORS

Amounts falling due within one year

5

(25,312

)

(31,177

)

NET CURRENT ASSETS

3,668

20,407

TOTAL ASSETS LESS CURRENT LIABILITIES

3,668

20,407

CAPITAL AND RESERVES

Called up share capital

100

100

Profit and loss account

3,568

20,307

SHAREHOLDERS' FUNDS

3,668

20,407

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2020 and were signed by:

Mr T A Mehta - Director

1.	STATUTORY INFORMATION

Aum Private Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes. Turnover from the rendering of mortgage finance and estate agency

services is recognised by reference to the stage of completion of the contract.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future payments discounted at a market rate of

interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any

impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Prepayments and accrued income

-

51,584

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Bank loans and overdrafts

-

409

Trade creditors

73

-

Tax

10,902

9,453

Other creditors

-

543

Director's current account

9,574

13,572

Accrued expenses

4,763

7,200

25,312

31,177

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/19

31/12/18

£

£

Within one year

8,500

8,500

Between one and five years

34,000

34,000

In more than five years

75,792

84,292

118,292

126,792

7.	RELATED PARTY DISCLOSURES

Included in creditors is an amount due to the director and shareholder of £9,574 (2018: £13,572). The

outstanding loan due is interest free and payable on demand.

During the year the company paid dividends of £58,000 (2018: £18,000) to director.

8.	POST BALANCE SHEET EVENTS

Since 31 December 2019, the spread of COVID-19 has severely impacted many economies around the world. In

many countries, businesses are being forced to cease or limit operations for long or indefinite periods of time.

Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and

closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an

economic slowdown. Governments and central banks have responded with monetary and fiscal interventions to

stabilise economic conditions.

The company has determined that these events are non-adjusting subsequent events. Accordingly, the financial

position and results of operations as of and for the year ended 31 December 2019 have not been adjusted to

reflect their impact. The duration and impact of the COVID-19 pandemic, as well as the effectiveness of

government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the

duration and severity of these consequences, as well as their impact on the financial position and results of the

company for future periods.